JULZ vs. PMDE

Last updated Jun 4, 2026

JULZ (Trueshares Structured Outcome (July) ETF) and PMDE (PGIM S&P 500 Max Buffer ETF - December) are both exchange-traded funds - JULZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July, while PMDE is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. JULZ charges 0.79%/yr vs 0.50%/yr for PMDE.

Performance

JULZ vs. PMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) and PGIM S&P 500 Max Buffer ETF - December (PMDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULZ achieves a 8.79% return, which is significantly higher than PMDE's 2.61% return.

JULZ

• 1D: -0.52%
• 1M: 4.36%
• YTD: 8.79%
• 6M: 8.56%
• 1Y: 22.07%
• 3Y*: 16.86%
• 5Y*: 11.28%
• 10Y*: —

PMDE

• 1D: -0.06%
• 1M: 0.86%
• YTD: 2.61%
• 6M: 2.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JULZ vs. PMDE - Yearly Performance Comparison

	2026 (YTD)	2025
JULZ Trueshares Structured Outcome (July) ETF	8.79%	0.26%
PMDE PGIM S&P 500 Max Buffer ETF - December	2.61%	0.46%

Correlation

The correlation between JULZ and PMDE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025	0.89

Return for Risk

JULZ vs. PMDE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JULZ

JULZ Risk / Return Rank: 63
JULZ Sharpe Ratio Rank: 66
JULZ Sortino Ratio Rank: 66
JULZ Omega Ratio Rank: 65
JULZ Calmar Ratio Rank: 53
JULZ Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JULZ vs. PMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) and PGIM S&P 500 Max Buffer ETF - December (PMDE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	JULZ	PMDE	Difference
Sharpe ratio: Return per unit of total volatility	2.16	—	—
Sortino ratio: Return per unit of downside risk	3.03	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	2.60	—	—
Martin ratio: Return relative to average drawdown	11.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JULZ	PMDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	2.54	-1.38

Drawdowns

JULZ vs. PMDE - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, which is greater than PMDE's maximum drawdown of -1.59%. Use the drawdown chart below to compare losses from any high point for JULZ and PMDE.

Drawdown Indicators

	JULZ	PMDE	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-1.59%	-13.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.06%	-0.46%
Average Drawdown Average peak-to-trough decline	-2.98%	-0.26%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	—	—

Volatility

Volatility by Period

	JULZ	PMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	2.47%	+7.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.19%	2.47%	+9.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.32%	2.47%	+9.85%

JULZ vs. PMDE - Expense Ratio Comparison

JULZ has a 0.79% expense ratio, which is higher than PMDE's 0.50% expense ratio.

Dividends

JULZ vs. PMDE - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 11.00%, while PMDE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
JULZ Trueshares Structured Outcome (July) ETF	11.00%	11.96%	3.30%	3.59%	0.07%
PMDE PGIM S&P 500 Max Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JULZ and PMDE in my portfolio?

JULZ and PMDE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JULZ or PMDE?

On fees, PMDE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JULZ or PMDE?

PMDE is cheaper with a 0.50% expense ratio, compared with 0.79% for JULZ.

Which ETF pays a higher dividend yield, JULZ or PMDE?

JULZ has the higher dividend yield at 11.00%, compared with 0.00% for PMDE.

What is the main difference between JULZ and PMDE?

JULZ is categorized as Options Trading, while PMDE is Defined Outcome. JULZ tracks Cboe S&P 500 Buffer Protect Index July, while PMDE tracks SPDR S&P 500 ETF Trust (SPY). They also come from different issuers: TrueShares and PGIM. Their fees differ too: 0.79% for JULZ and 0.50% for PMDE.